Tax audit

Rupesh Soni (Taxation Consultant & CA final student)   (504 Points)

11 May 2014  
Individual assessee... If turnovr is Rs. 40 lakh Net Profit Rs.400000/- Contri to scie reasrch ass apprvd us 35 Rs.100000/- (it debitd to cap acc) Taxable Pgbp Rs.400000-150000=250000 Rs Wheathr I hve to Go Tax Audit?? as *.it s below 8% Pgbp presumptiv basis I.e 8% chk out with result of Normal comput. of Pgbp income or With Net profit as pr pofit losss??? reply